---
schema_version: "secwatch.filing_event.v1"
accession: "0001176334-26-000006"
form_type: "8-K"
ticker: "MMLP"
cik: "0001176334"
company_name: "MARTIN MIDSTREAM PARTNERS L.P."
filed_at: "2026-02-18T23:59:59+00:00"
generated_at: "2026-05-16T01:57:20.070409+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Martin Midstream Q4 net loss $2.9M; FY25 Adj. EBITDA $99.0M; 2026 guidance $96.5M

## Summary
- Q4 net loss $2.9M ($0.07/unit); FY net loss $14.8M ($0.37/unit) vs loss $5.2M in 2024.
- Q4 Adjusted EBITDA $24.8M; FY $99.0M vs $110.6M in 2024, down 10.5% YoY.
- Transportation segment FY Adj. EBITDA $30.8M (-$11.7M YoY); grease business down $5.3M.
- 2026 guidance: Adj. EBITDA $96.5M, total capex $36.5M (incl. $10M turnaround), adj. FCF $5.8M.
- Ended 2025 with $439.1M debt, $31.4M liquidity, leverage ratio 4.43x; dividend held at $0.005/unit.

## SEC filing metadata
- accession: 0001176334-26-000006
- form_type: 8-K
- ticker: MMLP
- cik: 0001176334
- company_name: MARTIN MIDSTREAM PARTNERS L.P.
- filed_at: 2026-02-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1176334/000117633426000006/0001176334-26-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1176334/000117633426000006/mmlp-20260218.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001176334-26-000006
- JSON: https://secwatch.observer/filing/0001176334-26-000006.json
- Plain text: https://secwatch.observer/filing/0001176334-26-000006.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.